Germany-based Henkel has reportedly reached an agreement to acquire three major US personal home care brands by TSG consumer Partners.
The $367 million transaction will transfer SexyHair, Kenra and Alterna brands to Henkel’s operations. The three names are all personal hair care lines and will join Henkel’s Schwarzkopf and Syoss hair care names.
According to reports, Henkel pursued the acquisition in efforts to heighten its brand awareness in the US. In a statement, the German firm said that North America is the company’s strongest and largest market.
The deal remains subject to regulatory approval by the appropriate authorities.
Full content: Cosmetics Design
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